Toronto Dominion Bank (NYSE:TD) Downgraded by Wall Street Zen to Sell

Key Points

• Toronto Dominion Bank has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, marking a significant shift in analyst sentiment.
• Despite a quarterly earnings report that exceeded expectations with $1.91 earnings per share, the company's revenue fell short of analyst forecasts.
• Currently, the stock holds a consensus rating of "Hold" with a target price of $93.00, reflecting mixed opinions among analysts about its future performance.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

TD opened at $79.20 on Friday. The firm's fifty day simple moving average is $75.14 and its two-hundred day simple moving average is $68.90. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $79.49. The company has a market cap of $134.70 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.69 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toronto Dominion Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caldwell Trust Co purchased a new position in shares of Toronto Dominion Bank during the 2nd quarter worth $41,000. Valeo Financial Advisors LLC purchased a new position in Toronto Dominion Bank during the second quarter worth about $233,000. Osaic Holdings Inc. increased its position in shares of Toronto Dominion Bank by 20.9% during the second quarter. Osaic Holdings Inc. now owns 42,190 shares of the bank's stock valued at $3,095,000 after acquiring an additional 7,282 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of Toronto Dominion Bank by 9.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,300 shares of the bank's stock valued at $1,711,000 after acquiring an additional 1,954 shares during the period. Finally, Silverlake Wealth Management LLC lifted its holdings in shares of Toronto Dominion Bank by 44.9% in the 2nd quarter. Silverlake Wealth Management LLC now owns 11,997 shares of the bank's stock worth $881,000 after acquiring an additional 3,715 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

About Toronto Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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